DBN launches 3 products for MSMEs

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The Development Bank of Nigeria , has launched three products to promote the thriving of the Micro, Small and Medium scale Enterprises . It is the federal government’s financing platform for MSMEs.

The products are the Finance to Finance product, Non-Interest Banking product and the Long-Term product, which will promote funding for the sector through its Participating Financial Institutions especially those affected by the COVID-19 pandemic.According to a statement from the bank, the F2F is for lending to MSMEs through microfinance banks, cooperatives among others with seven years repayment tenor.

 

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